Bank Nifty Outlook for 12th Nov

 In the previous session : 

Bank Nifty went up by 425 points then went down by 395 points before closing higher by 239 points on Wednesday as compared to its previous day's  close . 

Bank Nifty had made a life time high of 32613.10 on 30th December and had  then corrected till 16116.25 points on 24th March

On 11th Nov :

Bank Nifty  triggered our long trade  and completed 2 targets doing 200+ points

For 12th Nov :

Sustaining above 29015 enter for 29120 - 29240 - 29560 , SL 28895

Sustaining below 28675 enter for 28570 - 28450 - 28125 , SL 28795

Now for this week :

Bank Nifty had immediate resistance near 27130 - 27335 and above it next resistance near 27900 - 28045 zone

Bank Nifty has immediate support near 26470 - 26265 and below that next support near 25695- 25555 zone

Bank Nifty today made a high of 29030.90 within our expected resistance zone of 28900 - 29300 and unless it closes above it we can see some cooling off in this upmove. 

Incase of a gap up beyond the first target then for fresh updated levels intraday follow the telegram channel "simplytradestocks" .

Bank Nifty has now made a high of 28802.50 on 10tth Nov in the bounce from the fall till 16116.25  while Nifty has made a new lifetime high of 12643.90 on 10th Nov from the lows of 7511 made on 24th March.

How to use these levels 

• Enter on sustaining above/below the levels mentioned and look to book partly/fully once at the 2nd target as its placed at the resistance/support  . Re-enter if price sustains above / below the 2nd target with a trailing stoploss of the entry levels. 

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Disclaimer : These are my personal views and one should do their own research before entering any trades based on them  . The use of the blog is agreement that the blog is for informational and educational purposes only and does not constitute advice in any form in the furtherance of any trade or trading decisions.